Help O You skipped this question in the previous attempt. [The following information applies to the questions displayed below) Leach Inc. experienced the following events for the first two years of its operations: 2018: 1. Issued $10,000 of common stock for cash. 2. Provided $120,000 of services on account 3. Provided $27,000 of services and received cash. 4. Collected $93,000 cash from accounts receivable. 5. Paid $14,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 8 percent of the ending accounts receivable balance will be uncollectible. 2019: 1. Wrote off an uncollectible account for $700. 2. Provided $140,000 of services on account. 3. Provided $15,000 of services and collected cash. 4. Collected $122.000 cash from accounts receivable. 5. Paid $24,000 of salaries expense for the year, 6. Adjusted the accounts to reflect uncollectible accounts expense for the year Leach estimates that 8 percent of the ending accounts receivable balance will be uncollectible, Exercise 5-9 Part c. What is the net realizable value of the accounts receivable at December 31, 2018? Not malable value Exercise 5-9 Part a Required a. Organize the transaction data in accounts under an accounting equation (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank.) Event Assets Accounts Receivable Cash LEACH INC. Accounting Equation for the Year 2018 Equity Liabilities Accounting Titles for Retained Allowance Common Retained Earning stock Earnings 10,0001 - 120.000 Service rovence 27,000 Service revenue 10.000 . 1 2 3 120,000 . . . 4 27000 - 93,000 (14,000) 193,000) . . 5 6 300 . (14.000 laws expense (300) incolectiile accounts expense 132.700 115.000 27.000 300 0 10.000 b. Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for 2018. View previc Complete this question by entering your answers in the tabs below. Red B Inc Res B Stmt SE Reg B Bal Strmt Reg B Stmt Sheet Cash Flows Prepare the statement of cash flows for 2018. (Amounts to be deducted should be indicated with a minus sign.) LEACHINC Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities Inow from customers Inowrom customers $ 0 Netcash row from operating at Cashows from westing activi Cash flows from financing we indow for of common No change in beginning cash bounce Ending chance ous attem Required information Complete this question by entering your answers in the tabs below. Reg B Inc Stmt Req B Stmt Se Reg B Bal Sheet Req B Stmt Cash Flows Prepare the balance sheet for 2018. LEACH INC. Balance Sheet As of December 31, 2018 Assets Cash Accounts receivable Less: Allowance for doubtful accounts Total assets Liabilities Stockholders' equity Common stock Retained earnings 0 0 10,000 Total stockholders' equity Total liabilities and stockholders' equity 10,000 10,000 $